$BTC

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Bitcoin's price surge is attributed to several factors. One major reason is the upcoming "halving" event, which is expected to occur in mid-April 2025, although the exact date is uncertain. This event reduces the block reward for Bitcoin miners, effectively decreasing the supply of new coins entering the market. Historically, halving events have been followed by significant price appreciation

■ Another factor contributing to the price increase is the growing institutional adoption of Bitcoin. Spot Bitcoin ETFs in the US have seen massive inflows, with over $2 billion accumulated in just five days. This surge in institutional investment has boosted investor confidence and driven up demand

■ Additionally, regulatory developments, such as the appointment of pro-crypto Paul Atkins as the new chair of the US SEC, have also contributed to the optimistic market sentiment. Atkins' stance is expected to bring clarity to regulations, which could further fuel the growth of the crypto market ³.

■ Lastly, comments from influential figures like Fed Chair Jerome Powell, who stated that Bitcoin is a competitor to gold, have also had a positive impact on the market. This, combined with Trump's pro-crypto policies and the potential for nation-states to adopt strategic Bitcoin reserves, has created a perfect storm that's driving Bitcoin's price up.